Ask Your Peers - Liberty Mutual Renewal Increases by Greg Heitmann

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Greg Heitmann, IPA Risk Management, LLC - Rochelle Park, NJ 07662

Reputation: 1205 - Total posts: 167

Is anyone seeing large rate hikes on renewal from Liberty Mutual like this?...
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</br> The auto increase in premium is 50% while the umbrella premium is increasing 77%. This is a 14 unit account with straight trucks delivery food products locally. 2.5% loss ratio over the last 5 years.

5 year(s) 4 month(s) ago

1 Verified Reviews - 3 of 5.0

Scott, Marindependent Insurance Services LLC - Mill Valley, CA 94942

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0 Verified Reviews - 0 of 5.0

Scott, Marindependent Insurance Services LLC - Mill Valley, CA 94942

Reputation: 593 - Total posts: 25

Wow! That is some increase.

5 year(s) 4 month(s) ago

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1 Verified Reviews - 2 of 5.0

Greg Heitmann, IPA Risk Management, LLC - Rochelle Park, NJ 07662

Reputation: 1205 - Total posts: 167

Underwriter making excuses that make no sense.

5 year(s) 4 month(s) ago

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Lisa Rubens-Wragg, Insurance & Tax Services - Royalton, NY 14105

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1 Verified Reviews - 5 of 5.0

Lisa Rubens-Wragg, Insurance & Tax Services - Royalton, NY 14105

Reputation: 18 - Total posts: 1

Because they are looking to get out of the trucking market. I got that straight from an underwriter 3 to 4 months ago.

5 year(s) 4 month(s) ago

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1 Verified Reviews - 2 of 5.0

Greg Heitmann, IPA Risk Management, LLC - Rochelle Park, NJ 07662

Reputation: 1205 - Total posts: 167

Thanks. This is a produce wholesaler, but it is heavy on the auto.

But we're seeing similar on medical offices.

5 year(s) 4 month(s) ago

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Darren Nantz, Nantz Insurance Agency - Gainesville, FL 32606

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0 Verified Reviews - 0 of 5.0

Darren Nantz, Nantz Insurance Agency - Gainesville, FL 32606

Reputation: 25 - Total posts: 3

This is normal in Florida, 50 percent is high, they do not write commercial auto in Florida, here you have a handful of commercial auto carriers, we are independent with Allstate and Nationwide.

5 year(s) 4 month(s) ago

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John Jones, Star City Brokers - Hollins, VA 24019

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1 Verified Reviews - 5 of 5.0

John Jones, Star City Brokers - Hollins, VA 24019

Reputation: 280 - Total posts: 50

Same increases here. Like one other person noted we were told they were wanting to get out of the commercial auto on anything over 10k pounds. Our management system gives us the % of increase and it ranges from 17-45 on all renewals from BOP's to Auto. The WC is staying the same rate but not everything else. We are moving our book over to a new carrier that my Liberty UW's and Rep went to. Guarenteed pricing and high commissions for 3 years

5 year(s) 4 month(s) ago

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1 Verified Reviews - 2 of 5.0

Greg Heitmann, IPA Risk Management, LLC - Rochelle Park, NJ 07662

Reputation: 1205 - Total posts: 167

Hi John:

Are you able to share who the carrier is you are moving it to?

5 year(s) 4 month(s) ago

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Justin Connors, Ck Specialty Insurance Assoc, Inc. - San Jose, CA 95118

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0 Verified Reviews - 0 of 5.0

Justin Connors, Ck Specialty Insurance Assoc, Inc. - San Jose, CA 95118

Reputation: 70 - Total posts: 8

hard market

5 year(s) 4 month(s) ago

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1 Verified Reviews - 5 of 5.0

John Jones, Star City Brokers - Hollins, VA 24019

Reputation: 280 - Total posts: 50

We just built a Box truck program with a Carrier for the East Coast to handle my Furniture Del and Appliance Install companies. Liberty use to be the market for this and all my policies got non-renewed with them.
Greg I could tell you but they won't let you write the trucks with them its a program we built with the Company they wanted the premium. Email me and I will send you to the company that is also doing mine but not as cheap and quick turn around. This company is about 3-4 weeks to get a quote

5 year(s) 4 month(s) ago

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1 Verified Reviews - 2 of 5.0

Greg Heitmann, IPA Risk Management, LLC - Rochelle Park, NJ 07662

Reputation: 1205 - Total posts: 167

Hi John:

I didn't see your email address. Mine is [email protected]

5 year(s) 4 month(s) ago

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Ask Your Peers Liberty Mutual Renewal Increases